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Home Q & A Board Other Fields Homework Help Business Accounting
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Cutie124 Cutie124
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6 years ago
On June 1, 2017, Smith & Beecham Services issued $32,000 of 8% bonds that mature in five years. They were issued at par. The bonds pay semiannual interest payments on June 30 and December 31 of each year. On December 31, 2017, what is the total amount paid to bondholders?
A) $1,280
B) $2,560
C) $640
D) $853
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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wrote...
#1
6 years ago
 A
Explanation:  A)
Principal amount$32,000
Rate of interest8%
No. of months6
Interest ($32,000  8%  1/2)$1,280
Cutie124 Author
wrote...
#2
6 years ago
Thank you, thank you, thank you!
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